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Quarterly Report 2 - 2014

Press Release, Report July 18, 2014

OVERVIEW FOR QBNK COMPANY AB
Q2 – 2014 Turnover: 3,7 MSEK (2,4)
Profit and loss before tax (EBIT): 1,9 MSEK (0,7)
Profit and loss: 1,3 MSEK (0,7)
Operating margin: 51% (31%)

Comments in brief

Q2 is the best quarter in QBNK's history. Sales increase by 58% and operating profit increased by 157% compared 2013. As the Group only existed for four months, we have chosen to present the figures for QBNK Company as comparatives.

Sales in Q1 + Q2 was 8.0 MSEK (4.7) with an profit before tax (EBIT) of 2.6 MSEK (1.5) and profit of 1.7 MSEK (1.4). Sales increase by 52% and operating income increased 75% compared to 2013.

 

Number of shares

The number of outstanding shares per 2014-06-30 is 25 000 000.

 

Profit per share

Profit per share is 0,01 SEK

 

Comming reports

Quarterly Repport 3 – 2014, will be rerlease on 20 October 2014
Quarterly Repport 4 – 2014, we be release on 30 January 2015

 

Insiders

Johan Glimskog
Sverker Littorin
Mats Persson
Carl Petruson
Entony Schere

 

Message from the CEO

QBank has developed strongly in a market that, according to Gartner Inc. increases by 40% per year. The last quarter has been marked by our stock exchange listing on June 2. It has taken major parts of our focus on the business but in retrospect, I am incredibly pleased with the results. On the 12th trading day we were AktieTorgets most traded share. We are now looking forward again and working hard with our continued growth and our goals. We have received several new customers, both in Sweden and abroad. I'm thinking mainly of Ovako, Norma Group and the Swedish Postcode Lottery. These will give us a good leverage when expanding outside of Sweden. We've also got two partners in Finnish Connecting Talents and Malmö-based Pixelant who together have over 400 potential customers to QBank. But the work is only in the beginning. We believe we have found a good model that attracts new partners to offer QBank to their customers and by the end of the year, I see that we have agreements with at least five new partnerships in place. We have also started some early stage acquisition discussions, which is in line with our strategy.

Sales
Although all the work around the listing does QBank its best quarter ever. Compared to Q2 2013, sales increased by 58% to 3.7 MSEK and operating profit by 157% to 1.9 MSEK. We can also triple the turnover without having to recruit any more people, or make any investment, which would increase profits even more. Revenues are broken down as; 60% subscription and 40% other services.

Finance
The balance sheet is solid and will be further enhanced by our continued positive results. We will repay the credit facility with 500 TSEK in the fall.

Risks
There are several risks that could affect the Company's operations and results. The internal risks we prevent by improving procedures and working methods. This work, we can largely impact ourselves. There are also external factors that may affect us. It might be new financial crises, political instability, competition from unexpected places, etc.. Investors should be cautious when investing and should create an overall impression of the company before investments are made.

 

About QBNK Holding AB (publ)

QBank's mission is to provide companies and government agencies cloud-based products and services in Digital Asset Management. The company is growing at 30-40% per year.

The ticker symbol for the stock is: QBNK
ISIN code of the company's shares is: SE0005934023

For more information, please contact:

Carl Petruson, CEO
QBNK Holding AB (publ)
Tel: +46 8-459 99 90
e-mail: carl.petruson@qbank.se

Download PDF Download Quarterly Repport 2 - 2014 (Swedish)

Topics: Press Release, Report

  

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